Although talks of selling Playboy Enterprises (NYSE: PLA) has cooled over the past few months, it looks like the company is looking at doing some buying of its own. That appears to be the reason Playboy has hired Paul H. Lee as its first managing director for new digital ventures, a new position. Lee comes to Playboy from the Peacock Equity Fund, a joint venture between NBC Universal (NYSE: GE) and GE Capital, where he currently serves as an SVP. He will take on the new role in two weeks.
Lee was a founding member of the Peacock Equity in 2007. His focus there was on investments in the mobile and gaming sectors, which happen to be areas that Playboy desperately wants to be bigger in.
While the company has been struggling the past two years and has lost a number of high profile execs, including CFO Linda Havard and president of media Bob Meyers, Lee is the second hire within the past month. A week ago, long-time Sony (NYSE: SNE) Pictures Entertainment exec Christoph Pachler was tapped to replace Havard. Release